JAKARTA (TheInsiderStories) – The shareholders of PT Saratoga Investama Sedaya Tbk (IDX: SRTG) approved a stock split plans with a ratio of 1:5 and buyback shares up to 25 million units or 0.92 percent of the paid-up capital proposed by the management on Thursday. The private equity firm also announced to distributes total dividend of Rp298.43 billion or Rp110 per share in this year.
“We assure that the dividend and stock split decision will make Saratoga more attractive as an investment partner in the Indonesian capital market,” said the president director, Michael Soeryadjaya, after the shareholders meeting on Wednesday (04/28).
He revealed, the pandemic that has occurred since the beginning of 2020 has caused a lot of uncertainty and decreased economic activity globally and nationally. However, Saratoga‘ net asset value (NAV) could grew by 39 percent to Rp31.7 trillion from a year ago.
Last year, the investment value in mining firm, PT Merdeka Copper Gold Tbk (IDX: MDKA), rose 120 percent to Rp10.18 trillion and the investment value in PT Tower Bersama Infrastructure Tbk (IDX: TBIG) grew 56 percent to Rp12.64 trillion. The venture capital firm also booked dividend income of Rp750 billion in 2020.
Most of contribution came from the energy company, PT Adaro Energy Tbk (IDX: ADRO) of Rp215 billion, Tower Bersama Rp214 billion, leasing manager, PT Mitra Pinasthika Mustika Tbk (IDX: MPMX) amounting to Rp210 billion, and from plantation company, PT Provident Agro Tbk (IDX: PALM) of Rp105 billion.
Investment director, Devin Wirawan, added, for this year, its hospital unit, PT Famon Awal Bros Sedaya (Primaya Hospital), plans to launch four new hospitals to complement the nine hospitals that have been operating in 2020. To support the expansion of the investment portfolio, the company also has consistently increased its investment, such as in logistic firm, PT Mulia Bosco Logistik, from 7.5 percent to 23.7 percent and in Mitra Pinasthika Mustika by 4.34 percent.
In the future, his party targets the contribution of investee shares from the consumer goods, health, and logistics, continue to increase. The company also expand their investment to startup technology companies through Skystar Capital and Provident Growth Fund. Skystar has invested in more than 30 companies and the Provident Growth Fund have been involved in a number of startups with a valuation above $1 billion such as Traveloka, Gojek, and JD.ID.
In 2020, Saratoga recorded a net profit of Rp8.82 trillion, rose 20 percent from the same period the previous year. This profit growth was supported by an increase in the value of investment portfolio, which increased by 39 percent to Rp31.7 trillion by the end of 2020.Soeryadjaya stated that the performance of the investment was the key to the achievement.
Founded in 1998, the investment managers has plays an active role in managing investee companies and exploring investment opportunities in the country. Saratoga focuses on investment opportunities in the early stages and growth, and in special conditions with a focus on sectors that support economic growth in Indonesia such as consumers, infrastructure, and natural resources.
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